The Republican Stock Exchange "Toshkent" (RSE) in Uzbekistan welcomed a high-level delegation from the Korea Exchange (KRX) on November 1, with KRX Executive Director Kyung Uk Min leading the delegation. The meeting, held at the RSE headquarters, aimed to strengthen cooperation and discuss the future of Uzbekistan's capital market.
George Paresishvili, the CEO of the RSE, began the discussions by providing an overview of the current state of the capital market in Uzbekistan and the plans for its development. He highlighted the significance of the new Presidential Decree No. 291, which outlines additional measures and a roadmap for the development of the capital market in Uzbekistan for the period 2023-2025. One of the key aspects of this decree is the facilitation of foreign investor access to the local securities market.
Paresishvili also addressed the challenges faced by the RSE in implementing the necessary changes to create a more robust and attractive investment environment.
In response, the KRX delegation, as a shareholder of the RSE, expressed their appreciation for the collective efforts of the RSE, the new regulator, and the Uzbek government in fostering the growth of the Uzbek capital market. They noted a significant increase in the number of trades conducted on the RSE over the past year, indicating the growing involvement of local retail investors. KRX affirmed its commitment to supporting further development in the capital market and the stock exchange in Uzbekistan.
The visit of the KRX delegation highlights the growing importance of Uzbekistan's capital market on the global stage and underscores the country's efforts to attract foreign investors to the region.
The Republican Stock Exchange "Toshkent" plays a vital role in the development of Uzbekistan's capital market and has been actively working to improve its regulatory framework and enhance the overall investment climate. The collaborative approach with international partners like KRX and the support of the Uzbek government are crucial steps in achieving these objectives.
The Republican Stock Exchange "Toshkent" was established on April 8, 1994, in accordance with the Presidential Decree of the Republic of Uzbekistan about measures for further deepening of economic reforms, ensuring protection of private property and development of business dated January 21, 1994, No. 745. Its operations are closely linked to the reform efforts in the country and the strategy of creating publicly traded companies based on formerly state-owned enterprises.
Currently, the Republican Stock Exchange "Toshkent" has evolved into an exchange with over 100 broker offices throughout the regions of the republic. It boasts state-of-the-art equipment and software that enable clients to participate in auctions from any location.
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